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History

1996

SEPI was created in 1995, by Royal Law Decree 5/1995, on June 16th, which was validated on January 10th, 1996 by Act 5/1996 for the Creation 18.02.09

Its creation took place within the framework of the process for the reorganization and modernization of the state-owned enterprises, in order to manage the industrial shareholdings owned by the State which came from the former entities Instituto Nacional de Industria (INI) and Instituto Nacional de Hidrocarburos (INH), which had been liquidated by the same norm.

In the year 1996 is carried out the change of company name of the Sociedad Estatal de Patrimonio by that of Sociedad Estatal de Participaciones Patrimoniales (SEPPA) with the functions of agent in charge of the privatization process.

A State-owned enterprise which is governed by private law and which is attached to the Ministry of Economics and Finance, which was incorporated through the change of the social name of the Sociedad Estatal Patrimonio I and the take over of the Sociedad Estatal de Patrimonio II. This incorporation took place by the Agreement of the Council of Ministers on June 28th, 1996, on which were defined the basis of the Program for the Modernization of the State-Owned Enterprises.

From this moment, SEPPa became the Agent in charge of the above modernization program, together with SEPI and the AIE.

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